By Staff Reporter
KARACHI: Pakistan’s central bank kept its policy rate unchanged at 22 percent on Monday, saying it expected inflation to ease in the coming months after securing a $3 billion bailout from the International Monetary Fund (IMF).
Economy
Pakistan, China ink six deals to boost cooperation on CPEC anniversary
By Staff Reporter
ISLAMABAD: Pakistan and China signed six agreements and memorandums of understanding on Monday to enhance bilateral cooperation in various fields, including trade, investment, infrastructure, and industrial development, Prime Minister Shehbaz Sharif said.
OGDCL boosts oil and gas output from four Sindh wells
By Staff Reporter
ISLAMABAD: Oil and Gas Development Company Limited (OGDCL), Pakistan’s largest oil and gas explorer, said on Monday it had increased its oil and gas production from four wells in Sindh province using cutting-edge technologies.
PM Sharif rules out finance minister Dar as caretaker leader
By Staff Reporter
ISLAMABAD: Prime Minister Shehbaz Sharif on Sunday dismissed speculation that his finance minister would become the caretaker leader ahead of general elections, saying a neutral person would be chosen to ensure a fair vote.
Pakistan welcomes Chinese vice premier for CPEC anniversary
By Staff Reporter
ISLAMABAD: China’s vice premier, He Lifeng, will arrive in Pakistan on Sunday for a three-day visit to mark the 10th anniversary of a major economic and strategic partnership between the two countries, the Pakistani foreign office said on Saturday.
No default risk in 2019, says PTI’s Umar
By Staff Reporter
ISLAMABAD: Former finance minister Asad Umar on Friday rejected claims by an ex-tax chief that the previous government of Imran Khan was on the verge of defaulting on its debt in 2019.
FBR hikes tax rates on cars, property, and online shopping
By Staff Reporter
ISLAMABAD: Pakistan’s Federal Board of Revenue (FBR) has notified amendments in the Income Tax Law to increase the tax collection from vehicle registration, property transfer, and online payments to non-residents.
Pakistan secures local equity, Chinese partnership for Saudi refinery project
By Staff Reporter
ISLAMABAD: Pakistan has signed three memoranda of understanding (MOUs) with four state-owned enterprises to raise the local equity for a multibillion-dollar Saudi refinery project and inked an engineering, procurement, and construction (EPC) contract with a Chinese firm, a minister said on Thursday.
Ecnec approves eight development projects worth Rs10.6 trillion
By Staff Reporter
ISLAMABAD: Pakistan’s top economic body approved eight development projects worth around Rs10.6 trillion on Thursday, including a nuclear power plant, a storage dam, and a canal system.
Six banks face Rs350.8m penalty from SBP for rule violations
By Staff Reporter
KARACHI: Pakistan’s central bank said on Thursday it had fined six banks a total of Rs350.8 million for failing to comply with rules on anti-money laundering, customer due diligence and other areas.